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Business action for climate-resilient pathways

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This DNV GL Group Technology and Research paper explores whether standards could be key to mobilizing businesses for climate-resilient pathways. Climate resilience is about building socio-ecological systems as well as organizations that can best withstand the coming stresses of climate change and mitigate the severity of future impacts; it is about setting companies and societies on the path of sustainable development. Standards, we argue, could help give direction and dimension to this complex undertaking.

Business needs to develop a more fluid and integrated perspective on mitigation, adaptation, and sustainability to ensure identification of trade-offs and co-benefits.

To identify opportunities, climate action taken by business must focus on more than physical climate risks, and should also involve organizational, strategic, and business model transformation.

Standards can be powerful tools for integrating climate risks and opportunities into core business strategies and for supporting the transformations needed for climate-resilient pathways.

To be transformative, standards must influence not only the operations of companies, but also affect their external environment, and even contribute to changes in world views and paradigms.

Business climate action requires solutions-oriented research that bridges the gap between the climate change science community and business.

Going forward, an ideal point of departure is the further development of procedural guidance to support companies with integrating climate risks and opportunities into core business.